United Technologies Corp. (UTC) has chosen MetricStream to provide an
integrated solution for Risk-Based Audit Management. MetricStream
Audit ManagementSolution will consolidate the full gamut
of internal audit processes on a common platform, enabling the company’s
100 auditors around the globe to better manage, track, and collaborate
across various projects. The solution will also provide risk
intelligence that will empower the firm’s auditors with quality data,
and enable them to better prioritize and plan their audits and related
audit processes.

United Technologies Corp., based in Hartford, Connecticut, is a
diversified company providing high technology products and services to
the building and aerospace industries. The company’s commercial
businesses are Otis elevators and escalators and UTC Climate, Controls &
Security, which includes Carrier, and its aerospace businesses are Pratt
& Whitney, Sikorsky and UTC Aerospace Systems.

Using the MetricStream solution, UTC aims to streamline the complete
audit lifecycle – beginning with risk assessments and audit planning,
and extending to audit scheduling, field work and data collection (both
online and offline), workpaper management, and reporting. The web-based
interface will enable auditors across the globe to efficiently
coordinate tasks and share information, while the secure role-based
access controls will help protect the integrity and security of
information.

The solution will also create an effective relational database structure
that brings together various risks, regulations, policies, controls,
auditable entities, audit activities, and other relevant data. This
clear and logical mapping between data inputs helps to simplify audit
planning, and enables auditors to proactively identify areas of concern.
Additionally, the MetricStream solution will provide UTC with the
flexibility to generate both ad hoc and standard reports, while
automating the entire report generation process. The reports, coupled
with advanced dashboards, charts, and graphs will enable auditors to
gain real-time visibility into enterprise-wide risks and audit results,
identify high-risk areas, and track the status of audits as they occur.
MetricStream’s solution lays a strong foundation to manage a whole range
of audits including financial, legal, IT and operational using a
federated approach and allows future extensibility into other areas of Governance,
Risk and Compliance (GRC).

“We are delighted that UTC has chosen MetricStream as they seek to
enhance critical components of their audit management processes,” said
Gaurav Kapoor, Chief Operating Officer at MetricStream. “As a leader in
the global aerospace and building systems industries, UTC was looking
for a solution to help manage the growing global complexity and
increasing challenges around risk management and compliance with
government regulations. MetricStream is a proven partner for leading
global corporations, and welcomes the opportunity to support UTC in
their audit management efforts.”

About MetricStream

MetricStream is a market leader in Enterprise-wide Governance, Risk,
Compliance (GRC) and Quality Management Solutions for global
corporations. MetricStream solutions are used by leading corporations
such as UBS, P&G, Constellation Energy, Pfizer, Philips, BAE Systems,
Twitter, SanDisk, Cummins and Sonic Automotive in diverse industries
such as Financial Services, Healthcare, Life Sciences, Energy and
Utilities, Food, Retail, CPG, Government, Hi-tech and Manufacturing to
manage their risk management programs, quality processes, regulatory and
industry-mandated compliance and corporate governance initiatives, as
well as several million compliance professionals worldwide via the www.ComplianceOnline.com
portal. MetricStream is headquartered in Palo Alto, California and can
be reached at www.metricstream.com.

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